Financial Aid

University of Maryland Fellowships

The University of Maryland Graduate School awards fellowships to students with outstanding academic records. Approximately eight to 10 new graduate students are awarded fellowships each year. Over the past couple of years, these fellowships included a $11,400 stipend , as well as a tuition credit of $8,400 per year for in-state students and $12,300 for out-of-state students. No assigned duties or services are required from the student.

Applicants who apply to the program prior to February 1, 2004 are automatically considered for fellowship support. Past successful fellowship recipients typically were among the top 5 percent of their undergraduate class, the top 5 percent of all GMAT test takers, and consistently ranked in the top 5 percent by their letters of recommendation. Applicants who wish to be nominated for fellowships should provide the Admissions Committee with documentation from their undergraduate institution that they were in the top five to ten percent of the graduating class. This documentation typically comes from the university registrars office, archivist, or from a faculty member in the department in which the applicant was studying. An applicant's references must submit a letter of reference along with the recommendation form. It is to the applicant's advantage to submit three letters of recommendation instead of two, one of which must be from a person in academia.

Smith School Scholarships and Fellowships

The Smith School of Business awards scholarships based on scholastic merit, evidence of leadership, GMAT scores, and work experience. The generous donors who provide these scholarships recognize the importance of attracting outstanding students from all over the world to the Smith School MBA program. Awards range from $4,445 to $27,000. All applicants to the Full-Time MBA whose applications are complete by February 1, 2004 receive automatic consideration.

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Graduate Assistantships

Students awarded graduate assistantships are classified as in-state for tuition purposes, which reduces tuition to the in-state rate, receive a tuition waiver of $3.490, and are paid a 9.5-month stipend of $6,065 for 180 hours of work per semester, excluding vacations. Assignments vary but may include research, administrative, or project work.

MBA students may apply for an Graduate Assistantship (GA) throughout the University of Maryland at College Park. Assignments vary but may include research, administrative, or project work. One resource for locating GA positions on the College Park campus is at the following web site: http://www.umd.edu/employment/#student. Since GA positions are handled independently by each department throughout the university, students are encouraged to contact departments directly.

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Consortium Graduate Scholarships

The Consortium of Universities of the Washington Metropolitan Area and The Economic Club of Washington offer two $5,000 scholarships to Washington DC area students who will enroll in the fall in a business or economics graduate program at a Consortium institution. For complete details, contact the Consortium of Universities of the Washington Metropolitan Area.

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Senatorial and Delegate
Scholarship Programs

Your Maryland State Senator and up to three Maryland State Delegates in your district may award scholarships for as much as $2,000 per year. Applicants must show financial need and must be residents of Maryland. Each senator and delegate establishes the final criteria to select recipients. Applicants must complete and mail the FAFSA to the federal processor by March 1.

• More information on Senatorial Scholarships
• More information on Delegate Scholarships

If your senator or delegate make awards themselves, you should also contact him or her for further instructions on how to apply. The State Scholarship Administration can provide a list of all state legislators.

Find Maryland elected officials at http://mdelect.net

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Need-Based Awards

The Office of Student Financial Aid at the University of Maryland at College Park offers aid in the form of Perkins Loans (formerly National Direct Student Loans), Stafford Loans (formerly Guaranteed Student Loans), College Work Study, and Graduate Grants to students showing financial need as determined by a completed Free Application for Federal Student Aid (FAFSA). The FAFSA is available at most colleges and universities throughout the country and online at http://www.fafsa.ed.gov. The FAFSA is also available on request from the University of Maryland Office of Student Financial Aid. The university does not use the GAPSFAS.

The Federal Work-Study Program offers employment opportunities for students who demonstrate sufficient financial need. Every effort is made to match the student's interest and career goals with a suitable assignment. Graduate students who are awarded work-study usually find a position within their program assisting with research or administration.

Eligibility for Stafford loans for graduate students is measured in units rather than credits with a number of units rated depending on the level of the classes a student is taking. "Half-time" is considered as 24 units and above.

To be considered for loans, grants, work-study, or any other type of financial assistance by the Office of Student Financial Aid, applicants must submit all previous financial aid transcripts and any other appropriate materials to the Office of Student Financial Aid by February 15. By this date, the office must also have received a processed FAFSA.

The applicant should submit the FAFSA to the College Scholarship Service, Box 2700, Princeton, NJ 08541, no later than January 15. Processing of this form requires approximately four weeks.

For more information about these programs and other fellowship and assistantship opportunities, please contact the Office of Student Financial Aid.

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